The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised President Bola Tinubu’s economic policies, claiming that the Federal Government spends about 11 times more on debt interest payments than on capital projects.
Obi made the assertion in a statement posted on X while reacting to a World Bank report on Nigeria’s economic performance.
He cited figures showing that the Federal Government spent ₦7.7 trillion on debt interest payments between January and June 2026, compared with revenue of ₦6.2 trillion during the same period.
“In comparison, the APC-led Federal Government spends about 11 times more on interest payment than on capital projects,” Obi wrote.
He questioned the sustainability of the country’s debt profile despite the increase in government revenue since 2023.
“How do you explain the unsustainable debt crisis even with exponential increase in revenue that we have had since 2023?” he asked.
The former Anambra State governor also claimed that spending on capital projects declined by about ₦700 billion in the first half of 2026, despite increases in government revenue and borrowing.
Obi attributed the situation to what he described as reckless borrowing, corruption and incompetence, arguing that improved economic indicators did not necessarily translate into better living conditions for Nigerians.
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“What comfort does higher revenue offer a mother who cannot provide her children with a nutritious meal?” he asked.
He maintained that the success of economic reforms should be measured by their effects on poverty, employment and citizens’ ability to afford essential needs, including food, healthcare and education.
Obi urged the Federal Government to review its policies and prioritise job creation, poverty reduction and the welfare of vulnerable Nigerians.
